The promising UK real estate market was fueled by people’s desire for bigger space to suit their newly adopted lifestyle of working from home. Furthermore, the new lockdown in the UK, that was decided in order to cut the rising cases of COVID-19 as the world prepares for a second wave of the pandemic, is also a contributing factor to the increase in house prices.
On an interview published by Pressat, Eitan Eldar, the founder and CEO of EEH Ventures, said: “The residential real estate market in the UK remained pretty stable throughout the pandemic. There was almost about a 5% decrease in demand in earlier months, but because of the exemption of tax on apartments up to £500,000, we are seeing a major rise in demand in the last few months”.
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